FINANCIAL NEWS

Algeria’s LNG output falls in September

10 Oct 2010

(MENAFN) Waterborne LNG said in its latest report that Algerian liquefied natural gas production fell to a year low of 40.6 billion cubic feet (bcf) in September, half the country’s production capacity of 81 bcf, Reuters reported.

According to the report, the fall to new lows coincides with the start-up of the Medgaz natural gas pipeline connecting Algeria to Europe’s top LNG importer Spain.

The pipeline began test shipments in July, with commercial deliveries expected some time in the final quarter of this year, potentially reducing Spain’s need for Algerian LNG.

In June, Algerian LNG exports were at 63 bcf, falling to 56 bcf in July and 46 bcf in August, according to Waterborne.

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